News Release: Labor Department’s Final Retirement Security Rules Will Help Protect the Savings of All Americans From Adviser Conflicts of Interest
Members of the Save Our Retirement coalition, along with a diverse collection of more than 60 consumer, retirement, and labor groups, today commended the Department of Labor (DOL) for issuing final rules designed to protect Americans from the harmful effects of conflicts of interest when financial advisers provide retirement investment advice: The rules will require all financial professionals who provide retirement investment advice to put the best interests of their clients ahead of what’s best for their own pockets. This commonsense requirement is long overdue and promises to be a major improvement over the status quo, which allows too many financial professionals and firms to offer self-serving retirement advice at the expense of workers and retirement savers.